Neontech Co., Ltd. (KOSDAQ:A306620) signed a transfer agreement to acquire KYSYSTEM Co., Ltd. for KRW 2.4 billion on April 21, 2020. Under the term, Neontech will pay KRW 1.5 billion in cash and will issue 0.49 million shares as consideration for acquiring 0.02 million shares of KYSYSTEM. As of December 31, 2019, KYSYSTEM reported total assets of KRW 4.4 billion, total capital of KRW 1.4 billion, revenue of KRW 14.4 billion and net income of KRW 505 million. The transaction was resolved by the board of Neontech on April 21, 2020. The transaction is expected to close on April 29, 2020.